The major US stock indices are opening lower after giving up earlier gains. At the start of the North American session, the NASDAQ index is up around 100 points.
Currently, three minutes into the opening, the snapshot of major indices shows:
- Dow industrial average -173.69 points or -0.41% at 41738.02
- S&P index -17.11 points or -0.30% at 5597.45
- NASDAQ index -24.42 points or -0.14% at 17443.90
The S&P index closed below its 200 day moving average yesterday for the first time since November 2023. That moving average currently comes in at 5736.05.
S&P technicals
For the NASDAQ index, yesterday the index tested its 38.2% retracement of the move up from the October 2023 low at 17268.18 and found support buyers. Moving below that level would open the door for more selling potential.
NASDAQ technicals
Oracle shares are down -5.26% in early trading after disappointing on their earnings after the close yesterday.
Yesterday the magnificent seven all fell sharply:
- TSLA: -15.43%
- NVIDIA (NVDA): -5.07%
- Apple (AAPL): -4.85%
- Google (GOOGL): -4.60%
- Meta (META): -4.42%
- Amazon (AMZN): -3.36%
- Microsoft (MSFT): -3.34%
Looking at the shares today currently (indices are now rebounding) shows mixed results:
- Tesla +3.73%
- Nvidia +2.90%
- Apple -1.13%
- Google +0.12%
- Meta +1.69%
- Amazon +1.50%
- Microsoft +0.23%